We believe that change is possible when ESG is embedded into the core of a business. BSM's comprehensive ESG strategy and governance structure work towards identifying and monitoring related challenges and opportunities for our company. Throughout this report, we have included our complete ESG targets in line with our material topics. However, while writing this letter, developments in the Ukraine war have impacted our operations, shifting our priorities for 2022 onwards with an utmost focus on the safety of our people.

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BSM Smart Academy expanding its partner network
BSM Smart Academy expanding its partner network

The BSM Smart Academy has gained two more universities for its programme: the King Abdulaziz University in Saudi Arabia and the Arab Academy for Science, Technology and Maritime Transport in Egypt. This brings the partner network of the BSM Smart Academy, which was only launched by the BSM in April 2024, to six maritime institutions. BSM is also in cooperation talks with other universities.

The potential of Carbon Capture and Storage for the shipping industry
The potential of Carbon Capture and Storage for the shipping industry

Carbon Capture and Storage (CCS) is a safe and efficient way to handle emissions and meet climate targets. And it offers beneficial opportunities for the shipping industry in gaining new business and reducing its own carbon footprint, Johan Lillieskold, Gas Solutions Specialist at Schulte Group, is convinced.

EU ETS: It's time to act
EU ETS: It's time to act

On 1 January 2024, shipping officially joined the European Union’s Emission Trading System (EU ETS). With it emerged a comprehensive set of responsibilities, accompanied by significant financial implications for shipping companies who, for the first time, are included in a market-based measure such as EU ETS. The increased level of interaction between the European Commission and the shipping industry means a novelty for both parties - and an ongoing learning process.